diff --git a/ballerina/Ballerina.toml b/ballerina/Ballerina.toml
index 2445258c..611468f2 100644
--- a/ballerina/Ballerina.toml
+++ b/ballerina/Ballerina.toml
@@ -1,7 +1,7 @@
 [package]
 org = "ballerina"
 name = "udp"
-version = "1.5.0"
+version = "1.5.1"
 authors = ["Ballerina"]
 keywords = ["UDP", "datagram", "transport"]
 repository = "https://github.com/ballerina-platform/module-ballerina-udp"
@@ -12,39 +12,39 @@ distribution = "2201.3.0"
 [[platform.java11.dependency]]
 groupId = "io.ballerina.stdlib"
 artifactId = "udp-native"
-version = "1.5.0"
-path = "../native/build/libs/udp-native-1.5.0.jar"
+version = "1.5.1"
+path = "../native/build/libs/udp-native-1.5.1-SNAPSHOT.jar"
 
 [[platform.java11.dependency]]
-path = "../test-utils/build/libs/udp-test-utils-1.5.0.jar"
+path = "../test-utils/build/libs/udp-test-utils-1.5.1-SNAPSHOT.jar"
 scope = "testOnly"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-handler"
-version = "4.1.86.Final"
-path = "./lib/netty-handler-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-handler-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-buffer"
-version = "4.1.86.Final"
-path = "./lib/netty-buffer-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-buffer-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-transport"
-version = "4.1.86.Final"
-path = "./lib/netty-transport-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-transport-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-common"
-version = "4.1.86.Final"
-path = "./lib/netty-common-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-common-4.1.100.Final.jar"
 
 [[platform.java11.dependency]]
 groupId = "io.netty"
 artifactId = "netty-resolver"
-version = "4.1.86.Final"
-path = "./lib/netty-resolver-4.1.86.Final.jar"
+version = "4.1.100.Final"
+path = "./lib/netty-resolver-4.1.100.Final.jar"
diff --git a/ballerina/CompilerPlugin.toml b/ballerina/CompilerPlugin.toml
index ca06f760..ce92f430 100644
--- a/ballerina/CompilerPlugin.toml
+++ b/ballerina/CompilerPlugin.toml
@@ -3,4 +3,4 @@ id = "udp-plugin"
 class = "io.ballerina.stdlib.udp.compiler.UdpCompilerPlugin"
 
 [[dependency]]
-path = "../compiler-plugin/build/libs/udp-compiler-plugin-1.5.0.jar"
+path = "../compiler-plugin/build/libs/udp-compiler-plugin-1.5.1-SNAPSHOT.jar"
diff --git a/ballerina/Dependencies.toml b/ballerina/Dependencies.toml
index c9c28121..c0d23303 100644
--- a/ballerina/Dependencies.toml
+++ b/ballerina/Dependencies.toml
@@ -75,7 +75,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "udp"
-version = "1.5.0"
+version = "1.5.1"
 dependencies = [
 	{org = "ballerina", name = "io"},
 	{org = "ballerina", name = "jballerina.java"},
diff --git a/changelog.md b/changelog.md
index e339acf7..6552e574 100644
--- a/changelog.md
+++ b/changelog.md
@@ -5,6 +5,11 @@ The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 
 ## [Unreleased]
 
+### Fixed
+- [Address netty vulnerability: CVE-2023-4586](https://github.com/ballerina-platform/ballerina-standard-library/issues/4908)
+
+## [1.5.0] - 2022-11-29
+
 ### Changed
 - [API docs updated](https://github.com/ballerina-platform/ballerina-standard-library/issues/3463)
 
diff --git a/gradle.properties b/gradle.properties
index 61b59e45..e97ab2fc 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -8,7 +8,7 @@ githubJohnrengelmanShadowVersion=5.2.0
 checkstyleToolVersion=7.8.2
 githubSpotbugsVersion=4.5.1
 testngVersion=7.4.0
-nettyVersion=4.1.86.Final
+nettyVersion=4.1.100.Final
 underCouchDownloadVersion=4.0.4
 researchgateReleaseVersion=2.8.0
 slf4jVersion=1.7.30